You would want to try and bring in $1000 per month to cover the mortgage in case the unit is vacant for a month or 2 while search for a replacement tenant.10.Hire property manager?

Not only will they not cover the damage to the room but it will void the insurance on your entire property.

I just felt as if I needed 20 to 30k cash to put a down payment and cover expenses for a first property.

I'm not a smoker, but doesn't the smell linger, even if you cover it up?

Do you recommend putting insurance to just cover ACV or replacement?

I was paying a very competitive 75% split and covering E&O, websites, CRM, marketing and doing a ton of training. 

I'm hoping to force enough equity to cover all of the closing and processing fees, and hopefully as much of the rehab as possible. 

@Nathan Rude So whatever business expenses that the rent from the other unit doesn’t cover, we will cover.

@Scott Voiers If you're gunning for the big stuff, amass capital equal to 30% of the big stuff purchase price, and ensure that your big stuff cash flow will cover monthly debt payments (DSCR).

Most of investors here on BP have desire to grow and hence having access to the quality team members that can cover the accounting/bookkeeping angle of the process is absolutely critical to any business to be successful!